Court extends remand in Prabhu Bank banking offence probe
According to the court administration, investigators sought more time to complete necessary inquiries related to the alleged banking offence.
KATHMANDU: The Patan High Court has extended the remand period for further investigation into a banking offence case involving Prabhu Bank’s top executives, including CEO Ashok Sherchan.
A joint commercial bench comprising Judges Somkant Mainali and Keshav Prasad Bastola on Friday granted an additional two-day extension to continue the probe.
According to the court administration, investigators sought more time to complete necessary inquiries related to the alleged banking offence.
The investigation is currently focused on the roles of four senior officials of Prabhu Bank — CEO Ashok Sherchan, Deputy CEO Maniraj Pokharel, Chief Credit Officer (CCO) Ribhansh Shrestha, and senior official Rajendra Shakya.
The case remains under active review as authorities look into possible procedural and financial lapses within the bank.
